How to stimulate employees, or about the mistakes of material incentives
What mistakes in motivating employees are considered the most common? We will list a few standard mistakes made by managers and hope that they will help you better understand how…

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Payment terminals as a business
In this article, we will consider a new business idea - payment terminals as a business. You always want your own business to become profitable right away, right? From this…

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Copying a business, or how to capitalize on other people's ideas (part 1)
Copying a business is a really powerful tool for creating a truly solid business. And let them say that it’s bad, that originality and creativity are valued higher, that copying…

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Mistakes of novice entrepreneurs – 10 most dangerous (part 2)

Mistake # 5: impatience
A common mistake of aspiring entrepreneurs is impatience. Business takes time, be patient. If you want to earn a million in the first month, hmmm … I don’t know, maybe :-). But it may not be … At the same time, of course, if you understand that nevertheless this is not it, do not wait for years … rebuild. In simple words, close this business and start a new one. I think this is understandable.

Mistake # 6: business alone
The sixth mistake of beginning entrepreneurs is that they do not hire employees. It’s not easy for one to cope with all business tasks, understand. Moreover, as soon as possible. Employees are not expenses, they are a way of business development. Freeing up time for more important and strategic business issues is more expensive than employee salaries.

Mistake number 7: there is no trust in employees
The seventh mistake of beginning entrepreneurs – they think that they themselves will do everything better. It is very similar to the previous one, but the difference is that the reason is not in employee costs, but in distrust of them. Understand that there are people who can do some things better than you. Sometimes it costs money, yes, but consider it a good investment.

If you are serious and long in business, then in any case, sooner or later you will have to entrust some (if not all) business processes to someone. And why not do it now at the beginning of the matter, when, in fact, less responsibility? Of course, we must control all this, no one will give all the best in your business like you, and should not. But this is better than doing everything with your own hands, thinking that “they” do not understand the business and will ruin everything.

Mistake number 8: no business plan
Starting a business without a business plan is not a good idea. This is not about a classic business plan in the strict sense of the word, but about planning and understanding your own actions in business endeavors. You yourself need to understand how and where to conduct your business, what activities will need to be undertaken, what and when to expect, set goals and objectives for yourself. I already wrote about this at the end of the article on how to write a business plan for yourself.

Mistake number 9: the wrong direction of effort
Very often, aspiring entrepreneurs confuse priorities. Excuse me. The main objective of a business cannot be anything but customer acquisition. Everything else will work out if there are customers. Very careful planning of absolutely all business processes and the desire to bring everything to the ideal is not always useful. Only the flow of attracting potential consumers should be brought to the ideal. Although it, too, can hardly be made ideal, but at least strive for :-).

Mistake number 10: no money
Starting a business without finance to support the business is also a common mistake of beginning businessmen. I have repeatedly said that a business can be opened without money or with minimal investment. This is not about that. The thing is that if you have any money appearing in the plan, they should be. Will you invest or not, you might think. But if you decide that you will, you must have them now.

Industry Analysis through 40 Questions (part 2)
Competitors and Competitive Industry Analysis 22. How many competitors in this industry? Analyze your piece of the market, i.e. those with whom you are really competing. But be aware of…


How to establish a business (part 2)
2. Which of the processes has the most significant impact on profits in my business? Here, rather, it’s immediately clear, but nonetheless. It’s immediately understandable, because I believe that in…


Factors Affecting Business Development
What factors influence business development strongly and constantly? We are talking about three business factors (or elements that are more convenient for anyone) - attention, reputation and trust. They are…